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Keegan Resources Inc.: Esaase Gold Project Infill Drilling Program Continues to Return High Gold Grades VANCOUVER, BRITISH COLUMBIA--(MARKET WIRE)--Feb 11, 2008 -- Keegan Resources Inc. ("Keegan") (CDNX:KGN.V - News)(AMEX:KGN - News)
is pleased to announce the results of five new drill infill
drill holes from within the existing 43-101 resource area.
Highlights include 42 meters of 8.75 g/t Au and 35 meters
of 2.02 g/t Au from drill hole KER264. This is the largest
cumulative grade width intercepts obtained from a drill
hole on the property so far. Other highlights include 105
meters of 1.48 g/t Au from drill hole 265 and 55 meters
of 1.42 g/t Au from drill hole 268 (please see www.keeganresources.com
for a drill hole location map). Keegan is currently using
two drill rigs on the Esaase property to rapidly upgrade
and expand the existing resource. The company has initiated
engineering studies to develop optimized mine and processing
design.
Table 1. Initial intercepts from the 2008 infill drill program, Esaase gold
deposit
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Hole ID From To Width grade Hole ID From To Width grade
(g/t) (g/t)
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KERC264 8 43 35 2.02 KERC266 86 189 103 0.93
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including 23 24 1 25.58 including 104 105 1 11.7
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and 30 31 1 10.86 KERC267 6 27 21 0.7
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KERC264 70 112 42 8.75 KERC267 71 78 7 0.74
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including 81 83 2 85.65 KERC267 98 104 6 0.55
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and 93 95 2 76.23 KERC268 91 111 20 2.49
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KERC265 62 167 105 1.48 including 95 96 1 28.6
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including 62 63 1 38.4 KERC268 130 137 7 0.8
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and 101 102 1 44.2 KERC268 160 215 55 1.42
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KERC266 48 53 5 0.61 including 171 172 1 17.4
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and 204 205 1 10.8
------------------------------------- ----------------------------------President and CEO Dan McCoy states: "These high grade intercepts illustrate the strength of the Esaase gold system. As we continue to understand the geologic controls of the gold system, we believe we have significant room to increase the value of the growing deposit, both within the existing resource as well as along strike, down dip and at depth." Richard Haslinger, P. Eng. is the Qualified Person with respect to NI 43-101 at Esaase. RC samples were taken at one meter intervals under dry drilling conditions by geologic and resource consultant RSG Global, Inc. utilizing drilling and sampling techniques widely accepted in resource definition studies of other West African gold deposits. All reverse circulation drill samples are weighed on site. All samples are using standard 50 gram fire assay with atomic absorption finish by Transworld Laboratories (GH) Ltd. in Tarkwa, Ghana or SGS Labs in Tarkwa, Ghana. QA/QC programs using internal and external standard samples, re-assays, and blanks indicate good accuracy and precision in a large majority of standards assayed. Intercepts were calculated to emphasize width rather than grade: a minimum of a 0.2 g/t cut off at beginning and end of the intercept and allowing for no more than six consecutive samples (six meters) of less than 0.2 g/t Au. All internal intercepts above 10 g/t Au are reported within the intercept. Intercepts of less than 5 meters or less than 0.5 g/t Au were not reported. Mineralization strikes approximately 30 degrees east of north and dips 45 to 60 degrees to the west. The drill holes are oriented 10 degrees south of north and are inclined at 45 degrees to the east, so true widths are estimated to be over 80% of the drilled widths. About Keegan Resources Keegan is a junior gold company offering investors the opportunity to share ownership in the rapid exploration and development of high quality, pure gold assets. The Company is focused on its wholly owned flagship Esaase and Asumura gold projects located in Ghana, West Africa. Managed by highly skilled and successful technical and financial professionals, Keegan is well financed with no debt. Keegan is also strongly committed to the highest standards for environmental management, social responsibility, and health and safety for its employees and neighboring communities. Keegan trades on the TSX-VEN and on the AMEX under the symbol KGN. More information about Keegan is available www.keeganresources.com. On Behalf of the Board Dan McCoy, Ph.D., President & CEO This release includes certain statements that may be deemed forward-looking statements. All statements in this release, other than statements of historical facts, that address future production, reserve potential, exploration drilling, exploitation activities and events or developments that the Company expects are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and those actual results or developments may differ materially from those projected in the forward-looking statements. For more information on the Company, Investors should review the Company's filings that are available at www.sedar.com. To view attached map please click on the following link: http://media3.marketwire.com/docs/0211kgn.pdf
Contact: Contacts:
Keegan Resources Inc.
Investor Relations
(604) 683-8193
Email: info@keeganresources.com
Website: http://www.keeganresources.com
Source: Keegan Resources Inc.
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